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Whole Foods to consider options after court reverses ruling that allowed Wild Oats merger
By Lisa Kerner
Charlotte, N.C., July 30 - Whole Foods Market, Inc. said it is disappointed with the decision by the U.S. Court of Appeals reversing the denial of the Federal Trade Commission's request for an injunction in the company's merger with Wild Oats Markets, Inc.
It was previously reported that the FTC filed suit to block Whole Foods' acquisition of Wild Oats on antitrust grounds.
The U.S. Court of Appeals for the District of Columbia remanded the case to Judge Friedman of the U.S. District Court for further evidentiary proceedings, it was reported in a form 8-K filed with the Securities and Exchange Commission.
Whole Foods is evaluating its legal options, which include seeking review by the entire Court of Appeals.
"In our view, the Court of Appeals' decision provides a roadmap for Judge Friedman to once again deny the FTC's request for a preliminary injunction," Whole Foods said in the filing, noting that in the meantime, it's business as usual for the company.
Whole Foods agreed in February 2007 to acquire Wild Oats for $18.50 per share in a transaction valued at about $565 million. The companies closed the merger approximately one year ago.
Wild Oats is a chain of natural and organic food markets based in Boulder, Colo.
Whole Foods is an Austin, Texas-based natural and organic foods retailer.
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